Packaging group Mpact rose 10.6% to R23.50 on Tuesday morning after it said its 2018 financial year earnings might be 20% higher than the prior year's. JSE-listed companies are required to issue trading statements if they expect basic and headline earnings per share (HEPS) to differ by more than 20%. The better-managed companies issue “voluntary” trading statements even if their earnings are expected to be flat. Mpact titled Tuesday's statement a voluntary trading, saying earnings “are unlikely to differ by 20% or more from the previous corresponding period”.

The group said it expected to report on March 13 that its HEPS for the year to end-December would be in the range of 15.5% and 21.6%. Growth of basic earnings per share is expected to be between 11% and 17.2%. Mpact said better trading conditions in the paper side of its business were partially offset by a decline in its plastics business. Revenue grew about 5% from the prior year's R10.1bn. laingr@businesslive.co.za

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now